The latest report by IMARC Group titled, “Travel Vaccines Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028” finds that the global travel vaccines market reached a value of US$ 3.6 Billion in 2022. Travel vaccines, also known as travel immunizations, are shots that travelers receive before visiting certain parts of the world where there is a high risk of developing certain diseases. These vaccines introduce the disease-causing microbes into the bloodstream to help the human body produce antibodies that will fight off the same if the person is exposed to the disease again. These shots must be taken at least 4 to 6 weeks before traveling, as it gives enough time for the immunization to start working efficiently.
Global Travel Vaccines Market Trends:
The market is primarily driven by the rising occurrence of infectious and travel-related diseases such as diphtheria, Japanese encephalitis, meningitis, and yellow fever. In addition, there has been significant growth in international tourism due to rapid globalization and reduced international airfares. As a result, the demand for travel vaccines has witnessed substantial growth across the globe. Besides this, combination vaccines are gaining popularity among travelers as they protect against multiple diseases and reduce the number of vaccines required, thereby contributing to the market growth. Moreover, travel vaccines have become an essential requirement in an international travelers list as governments of numerous countries have mandated that travelers should be vaccinated before visiting disease-prone regions. For instance, the National Health Service (NHS) is providing several free travel vaccines for diseases, such as cholera, polio, typhoid and hepatitis A, in the United Kingdom to reduce the risk of these diseases being spread across the country. On account of these factors, IMARC Group expects the market to grow at a CAGR of 10.95% during 2023-2028.
- On the basis of the composition, the market has been bifurcated into mono and combination vaccines. At present, combination vaccines account for the majority of the market share.
- Based on the disease, the market has been segmented into hepatitis A, DPT, yellow fever, typhoid, hepatitis B, measles and mumps, rabies, meningococcal, varicella, Japanese encephalitis, and others. Amongst these, hepatitis A exhibits a clear dominance in the market.
- On the geographical front, North America holds the leading position in the market. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed in the report, with some of the major players being GlaxoSmithKline Pharmaceuticals Limited, Sanofi Pasteur, Merck & Co., Inc., Novartis AG, Pfizer Inc., ALK -Abelló A/S, Bavarian Nordic A/S, Crucell (Subsidiary of Johnson & Johnson), CSL Limited, AstraZeneca PLC, Altimmune, Inc., Abbott Laboratories, Hoffmann-La Roche, Inc.
|Base Year of the Analysis
||Composition, Disease, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||GlaxoSmithKline Pharmaceuticals Limited, Sanofi Pasteur, Merck & Co., Inc., Novartis AG, Pfizer Inc., ALK-Abelló A/S, Bavarian Nordic A/S, Crucell (Subsidiary of Johnson & Johnson), CSL Limited, AstraZeneca PLC, Altimmune, Inc., Abbott Laboratories and Hoffmann-La Roche, Inc.
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